C3.ai (NYSE:AI) Shares Down 2.3% – What’s Next?

C3.ai, Inc. (NYSE:AI) shares traded down 2.3% during trading on Tuesday . The stock traded as low as $35.19 and last traded at $36.09. 1,820,104 shares were traded during trading, a decline of 52% from the average session volume of 3,771,784 shares. The stock had previously closed at $36.93.

Analyst Upgrades and Downgrades

A number of research firms have commented on AI. DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Piper Sandler raised their price target on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley upped their target price on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. Finally, KeyCorp lowered C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a report on Thursday, December 19th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

C3.ai Trading Down 2.4 %

The stock has a 50-day moving average price of $33.96 and a 200 day moving average price of $28.51. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -16.32 and a beta of 2.00.

Insider Activity

In other C3.ai news, Director Jim H. Snabe sold 499,700 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $430,500. This trade represents a 98.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total transaction of $417,600.00. Following the completion of the transaction, the director now directly owns 161,664 shares in the company, valued at approximately $5,625,907.20. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 668,721 shares of company stock worth $28,425,151 over the last three months. 33.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in C3.ai by 2.1% during the 2nd quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after acquiring an additional 432 shares in the last quarter. Victory Capital Management Inc. boosted its position in C3.ai by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after buying an additional 457 shares during the period. Principal Financial Group Inc. grew its stake in shares of C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after acquiring an additional 462 shares in the last quarter. Rhumbline Advisers increased its position in shares of C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after acquiring an additional 572 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in shares of C3.ai by 5.9% in the second quarter. EP Wealth Advisors LLC now owns 10,840 shares of the company’s stock valued at $314,000 after acquiring an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.